US 10 year Notes

The 10-year bond is now falling into minor wave iii of C down. Watch how prices went from a bearish extreme to a bullish extreme and are now falling. Falling bond prices are a risk on signal and mean that US equities continue to do well especially banking. Rising yields will not be all that bad. now the FED may not have called for higher rates yet and won't but the market will read this signal as a sign of risk and keep flashing risk as equities rise. Investor's need the emotional band width to avoid such news and narratives about tapering. The tapering news is created by the media and I have not heard the FED chair hint at it, and till they do not this is a risk on signal and nothing else.